Saturday, August 23, 2014

Today we take a look at the current real estate market in the Village of South Holland. Real estate appraiser Michael Walsh looks at statistics from the MRED MLS for the last twelve months and finds prices increasing and the market oversupplied. In the last 30 days there were 62 new listings of detached single family homes, there were 26 closed sales and 21 under contract. The median sales price over the last twelve months increased +4.4%, average marketing time declined
-0.8% to 119 days on the market, and there is currently a 5.2 month
supply of inventory. This level is considered a oversupply. REO &
Short Sales account for approximately 50% of total sales.